Further North Korea Nuclear Testing May Goad China Into Oil Embargo
by Tyler Durden
ZeroHedge.com
May 1, 2017
Chinese diplomatic analysts believe further nuclear tests by North Korea could push Beijing over the edge, prompting an oil embargo that would deal a devastating blow to Pyongyang’s stability.
US Secretary of State Rex Tillerson told Fox News that he had been informed that “China would be taking sanctions actions on their own,” should Pyongyang conduct another nuclear test.
“Crude oil is very likely to be included as part of new U.N. sanctions if North Korea continues with its provocative nuclear tests, and China will almost certainly endorse such an effort,” Sun Xingjie, an expert on North Korea from Jilin University said on the matter.
International sanctions against North Korea have been in place for the past several years, with the most recent United Nations-backed round targeting the country’s shipping network. A Chinese oil embargo would likely debilitate Kin Jong-un’s government.
“Instead of an oil embargo of just one or two months, which is unlikely to have a major impact on North Korea’s strategic oil reserves, we are talking about a halt in Chinese crude oil supplies for at least six months. That would be a real nightmare for Kim,” said Sun.
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